Medical Marijuana Industry Revenue Could Reach $8.4 Billion

IBISWorld Research published a report that determined the medical marijuana industry revenue could reach $8.4 billion by 2019. That's a growth rate of 18.7% annually. Revenue is expected to grow 63.1% in 2014 alone. However, analyst David Yang points out there are many headwinds facing the industry, such as the regulatory environment and the restrictive barriers to entry. Surprisingly edible marijuana products command 54% of the marijuana market share. Because of the various state laws, medical marijuana is mostly a small business operation, but it expected to pay over $750 million in wages.